Yesterday, FSN E-Commerce Ventures, the parent company of Indian beauty retailer Nykaa, reported a sharp jump in profitability for the first quarter ended June 30, with net profit more than doubling year-on-year.
Nykaa delivered a strong Q1 FY26 performance, with consolidated GMV reaching Rs. 4,182 Cr ($477.24 million), up 26% YoY. Revenue from operations rose 23% YoY to Rs. 2,155 Cr ($245.67 million), indicating consistent growth momentum over several quarters.
Profit climbed to 233.2 million rupees ($2.66 million) from 96.4 million rupees ($1.10 million) in the same period last year, supported by strong demand for beauty products and the addition of new high-end brands.
Nykaa, which carries labels including Estée Lauder and actor Katrina Kaif’s Kay Beauty, expanded its portfolio with luxury brand Chanel, Korean skincare line Aestura, and sunscreen specialist Supergoop. This helped boost its beauty segment revenue by 24% to 19.75 billion rupees ($225.15 million), driven by a push to reach more customers both online and through its physical stores, as well as a greater emphasis on premium offerings.
Speaking on this quarter’s earnings, Falguni Nayar, Executive Chairperson, Founder and CEO Nykaa said, “This quarter’s performance underscores Nykaa’s ability to consistently balance growth and profitability across both our beauty and fashion businesses. Our GMV for the quarter grew 26% year-on-year to Rs. 4,182 Cr, supported by accelerated premiumization and deeper market penetration. Since our IPO, we have consistently delivered mid-20s growth at a consolidated level. Our cumulative customer base now stands at 45 million, reflecting the growing trust and adoption of our platform. The House of Nykaa Beauty business also continues to scale rapidly, driven by successful new launches and strong consumer demand, now contributing 18% of our overall beauty GMV*—a clear testament to our brand-building strength.”
